Business

Dollar and Naira bills [Photo credit: NairaFX]

CBN reviews BDC rates to N360 per dollar

The bank had earlier pegged selling rate for banks at N360.

Arik Air. (Photo Credit: Punch)

Arik airline shareholders file new suit against AMCON, NCAA over takeover

Arik shareholders accuse the new administrators of the airline of mismanagement.

Central bank of Nigeria

CBN introduces financial education curriculum in primary, secondary schools – Official

The new curriculum will be introduced in pilot states across Nigeria, an official said.

NNPC TOWERS

Oil firm returns N62 billion to NNPC aftermath controversial crude swap deal under Jonathan

Another firm has pledged to return $27 million (N8.3 billion) under the deal.

Dollars

CBN adds more dollars to forex market after setting sales limit

CBN directs banks not to sell dollars for an amount beyond N360.

Ahmed Kuru, Managing Director, Asset Management Corporation of Nigeria (AMCON)
[Photo: Tadall]

AMCON recovers N681 billion from chronic debtors – MD

AMCON has at least N1.7 trillion worth of assets under litigation across the country.

Dollar and Naira bills [Photo credit: NairaFX]

CBN sets upper limit for dollars sales to customers

CBN directs banks not to sell dollars above N360 to customers.

OPEC [PHOTO CREDIT: Zero Hedge]

Uncertainty over extension of oil-output cut among oil producers

Nigeria wa exempted from the oil output cut.

Keystone

‎New investor takes over Keystone Bank

The new investors pledged to reposition the bank on a growth path with immediate effect.

Dollar and Naira bills [Photo credit: NairaFX]

As Naira appreciates, Bureau de Change operators lose N130 million in one week – Official

The Naira traded at N440 last Monday while it closed at N390 to the dollar on Friday.

Ugo-Nnadi from the court [Photo: Information Nigeria]

Fraudulent Nigerian oil firm is “virtually broke”, owes millions of dollars – NNPC

The company was earlier convicted for subsidy fraud and its owners were sentenced to 10 years in prison each.

Addax Petroleum [Photo: Africa Oil & Gas reports]

Addax Petroleum CEO arrested over Nigeria operation

The CEO is being investigated for alleged wrongdoing.

President Muhammadu Buhari and King Mohammed VI of Morocco

Nigeria, Morroco fertilizer deal creates 50,000 jobs — NNPC boss

Morocco has already shipped a cargo of phosphate to Nigeria.

Crude oil extraction [Photo credit: Bloomberg]

Crude Oil Swap: Firms agree to pay $184 million to Nigerian govt

The companies under-delivered fuel over a period of time.

The World Bank

World Bank approves $200 million loan for Nigeria to boost Agriculture

The loan is to support small and mid-scale farmers.

African Union [Photo: Wikipedia]

AU Set On Making African Businesses More Responsive To Human Rights

The consideration and validation of the draft of the Policy Framework was the subject of a gathering of over 50 participants.

Arik Air. (Photo Credit: Punch)

Court fixes date for ruling on Arik Air’s AMCON takeover

A lawyer representing AMCON is accused of professional misconduct.

Bureau De Change

Naira consolidates strength against dollar

CBN-licenced BDCs would incur regulatory losses of N130 million this week.

President Muhammadu Buhari

Buhari appoints new executives for Nigeria’s Bank of Agriculture

The new heads include an interim managing director and other executive directors.

Arik Airline

Arik ‘resolves’ industrial disputes, resumes flight operations

The NCAA brokered a peace meeting held Thursday evening.

Central bank of Nigeria

Forex: Central Bank injects fresh $100 million into interbank market

“We the dealers are anxious to dispose whatever we have at our disposal, because we do not want to suffer a loss.”

Bureau De Change

Dollar records further loss, sells for N390 at parallel market

The last time the naira traded at between N390 and N400 to the dollar at the parallel market was in August 2016.

Dollar and Naira bills [Photo credit: NairaFX]

Naira sells at N400 to dollar

Naira exchanged at N410 a dollar on Wednesday.

Stanbic IBTC

Stanbic IBTC announces 59 per cent improved earnings for 2016

“The strong growth was driven by a 78 per cent increase in retail fees to N14.3 billion.”

Arik Air. (Photo Credit: Punch)

AMCON condemns workers’ union over Arik airline shutdown

Aviation unions had in the early hours of Thursday shut down the operations of Arik Air.